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Category Archives: Frequently Asked Fridays

How Much Will BoC’s Interest Rate Rise Cost You?

Bank of Canada announces end to seven-year period of historic low interest rates The Bank of Canada (BoC) is raising its overnight rate by 0.25%, or 25 basis points, for the first time in seven years, the BoC announced this morning. This takes the rate from 0.5% to 0.75%. Usually interest rates rise when inflation is above its target rate, but Canada’s inflation has ...

Whether to Buy Resale or Presale: The Pros and Cons

When you’re looking for a home to buy, one of the biggest decisions is whether to buy a resale home through the MLS® or whether to go to a developer’s sales centre and buy a brand new unit off plan. Both decisions have their advantages and disadvantages, and knowing what those are will help you make the right choice for you. Resale home Pros: …